The MIB index reflected Italian optimism during the Thursday session as we bounce from the recent hammer. This market looks like it is trying to gain steam at this point time, but it should be noted we are currently forming a symmetrical triangle. This of course means that we could see a fairly strong move in one direction or the other, and that the balance has been found between buyers and sellers.
Sooner or later, something will come out that will move the markets in one direction or the other. When this happens, we would become very bearish if it breaks lower, or very bullish of your breaks higher. Until that happens of course, we are going to be flat of this market.